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| Company Name | Symbol | %Change |
|---|---|---|
| VIASAT INC | VSAT | 19.35% |
| OLD SECOND B | OSBC | 5.76% |
| GAMCO INVEST | GBL | 4.61% |
| CORNING INC | GLW | 4.47% |
| SYNCHRONOSS | SNCR | 4.23% |
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Zacks Investment Research upgraded Sutor Technology Group Limited ( SUTR ) to a Zacks Rank #1 (Strong Buy) on Feb 15, 2013.
Why the Upgrade?
Financial results for the second quarter of fiscal 2013 (ended December 31, 2012) as announced on Feb 7, 2013, impressed all with earnings per share for the quarter rising 71.4% year over year on the back of a 46.3% increase in revenue. Earnings per share of 12 cents in the quarter were precisely 100% increase over the Zacks Consensus Estimate of 6 cents.
Revenue improvement can be attributed to new products and service offerings to a more diversified customer base. Volumes sold improved while average selling price was a little weak. Higher proportion of low-margin products in the quarter pressured gross margin that went down 190 basis points.
Operating margin in the quarter went down by 40 basis points, due primarily to lower gross margins, offset slightly by lower proportion of operating expenses as a percentage of revenue.
Three out of four quarters of positive earnings surprise with the average being 47.6%, raises optimism for a better financial performance ahead. Following the second quarter results, in the last 30 days, the Zacks Consensus Estimate for fiscal 2013 has gone up by 40.9% to 31 cents while that for fiscal 2014 went up 7.7% to 42 cents.
Other Stocks to Consider
Other stocks worth a look at in the industry are POSCO ( PKX - Analyst Report ) , Companhia Siderurgica Nacional ( SID - Analyst Report ) and Gerdau S.A. ( GGB - Analyst Report ) , each with a Zacks Rank #2 (Buy).
Read the full Analyst Report on SID
Read the full Analyst Report on PKX
Read the full Analyst Report on GGB
Read the full on SUTR